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Benzinga
Benzinga
Business
Anusuya Lahiri

South Korean Chipmaker Weighs Arm Takeover Options

SoftBank Nasdaq SK Hynix SoftBank Group Nvidia Corp SK Hynix Inc SoftBank Group Corp Yonhap News Agency
  • South Korean chipmaker SK Hynix Inc (OTC:HXSCL) CEO admitted to weighing a consortium to acquire British semiconductor company Arm Ltd, Reuters reports citing Yonhap news agency.
  • “I don’t believe Arm is a company that could be bought by one company,” SK Hynix Vice-Chair and co-CEO Park Jung-ho admitted, FX Empire reports.
  • SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) looked to list Arm on Nasdaq by March 2023 via an IPO worth $60 billion. 
  • Recently SoftBank’s deal to sell Arm to Nvidia Corp (NASDAQ:NVDA) fell flat due to global regulatory opposition.
  • Arm looked to transfer its Chinese joint venture shares to a SoftBank Group special purpose vehicle to speed up its IPO.
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